Harrison Ford at the "42" premiere in Hollywood, California on April 9, 2013 / Bruce Willis in a scene from the 2012 Lionsgate film "The Expendables 2." (Sara De Boer/ startraksphoto.com and Lionsgate Entertainment Inc.)

Action star Sylvester Stallone shared his excitement on Twitter over former co-star Bruce Willis being expended from the upcoming "The Expendables 3" in favor of fellow action hero Harrison Ford.

Ford, 71, known for his iconic roles in the "Indiana Jones" and "Star Wars" franchises, was announced as the replacement for Willis, 58, who appeared in the first two "Expendables" films, in the third installment of the action movie. Stallone, 67, tweeted about the casting, joking to his more than 900,000 followers, "WILLIS OUT... HARRISON FORD IN !!!! GREAT NEWS !!!!! Been waiting years for this!!!!"

Stallone continued to rejoice in Ford's casting at the expense of Willis, additionally tweeting, "GREEDY AND LAZY ...... A SURE FORMULA FOR CAREER FAILURE." "The Expendables 3" comes on the heels of two successful installments in the action film franchise, the first earning more than $274 million worldwide since its August 2010 release and the second earning more than $300 million worldwide since its August 2012 release.

The third "Expendables" is scheduled to begin shooting in mid-August and is expected to hit theaters in August 2014. In addition to Stallone and Ford being confirmed for the third installment, Mickey Rourke is set to reprise his role in the film after sitting out of "The Expendables 2."

(Pictured above: Harrison Ford at the "42" premiere in Hollywood, California on April 9, 2013 / Bruce Willis in a scene from the 2012 Lionsgate film "The Expendables 2.")